8 Inventory After studying this chapter, you should be able to:
{"Image DocumentName": "8 Inventory After studying this chapter, you should be able to:", "Image ImageDescription": "(continued) Explain why inventory is measured at the lower of cost and market, and apply the lower of cost and net realizable value standard. Identify inventories that are or may be valued at amounts other than the lower of cost and net realizable value. Apply the gross profit method of estimating inventory. Identify how inventory should be presented and the type of inventory disclosures required by ASPE and IFRS. Explain how inventory analysis provides useful information and apply ratio analysis to inventory. Identify differences in accounting between ASPE and IFRS, and what changes are expected in the near future.", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}